Law Firm Document Breach Reveals Rich Clients Stash Cash Offshore

 
 
By eWEEK Staff  |  Posted 2016-04-06 Print this article Print
 
 
 
 
 
 
 

DAILY VIDEO: Massive law firm hack reveals rich hiding money; Intel shakes up executive leadership in PCs, IoT; Brocade springs $1.2 billion for WiFi provider Ruckus Wireless; and there's more.

 
Most Note7 Owners Choosing New Note7 Replacements Over Alternatives

DAILY VIDEO: Most Note7 owners want new Note7 replacements, Samsung claims; HPE and Dell unveil...

Google Tablet, Laptop to Run Android, Chrome OS Hybrid: Report

DAILY VIDEO: Google plans tablet and laptop running Android, Chrome OS hybrid; Salesforce releases...

Windows Server 2016 Debuts at Microsoft Ignite Conference

DAILY VIDEO: Microsoft's Windows Server 2016 debuts at Ignite conference; Docker now runs on Windows...

Salesforce, Other Suitors Reportedly Considering Twitter Buyout

DAILY VIDEO: Salesforce reportedly considering buying Twitter; Apple unveils public version of iOS...

Apple iPhone 7 Users Report 'Hissing' Noise That May Prove Innocuous

DAILY VIDEO: "Hissing" iPhone 7s reported, but that may be a normal noise; Microsoft delivers Version...

Google Smartphone, VR Headset Expected to Debut at Oct. 4 Event

DAILY VIDEO: Google expected to unveil smartphone, VR headset at Oct. 4 event; Ellison claims...

Samsung Says Green Charging Light Hallmark of Safe Note7 Handsets

DAILY VIDEO: Samsung Note7 recall update: How to ID a non-defective handset; Oracle launches a major...

Google to Roll Out Allo Messaging App on Sept. 21: Report

DAILY VIDEO: Google reportedly launching Allo messaging app Sept. 21; Intel, GE partner to make...

iPhone 7 Plus So Far More Popular Than iPhone 7

DAILY VIDEO: iPhone 7 sales patterns contrast with those of iPhone 6 and 6s; mobile carriers unveil...

Apple Says iPhone 7 Sales Start With Some Models Already Sold Out

DAILY VIDEO: Apple says some iPhone 7 models are already sold out; Qualcomm pushes for more dual...



Read more about the stories in today's news:

 
 
 

Today's topics include how the theft of 11.5 million documents from a Panamanian law firm reveals details about offshore financial accounts held by prominent politicians and wealthy private citizens, the news of a major executive leadership shakeup, Brocade Communications' purchase of Ruckus Wireless and a federal appeals court ruling overturns a patent infringement verdict against Google.

The alleged hack of Mossack Fonseca, a Panamanian law firm, has resulted in the leak of more than 11.5 million documents that detail the workings of offshore accounts held by many prominent politicians and wealthy private citizens.

The leak happened a year ago, when an unknown source contacted the Süddeutsche Zeitung, a German newspaper. The newspaper collaborated with about 400 other journalists to release the information—dubbed the "Panama Papers"—on April 3.

The leak underscores that law firms' lack of focus on cyber-security has put it legal jeopardy and exposed clients to business loss and risk. For more than half a decade, security experts have been warning law firms that they are a logical target of hackers and nation-state adversaries.

The dominoes from Intel's decision to hand control of the company's client computing, Internet of things and software businesses to a former Qualcomm executive are beginning to fall.

Two longtime Intel veterans—Kirk Skaugen, senior vice president and general manager of the Client Computing Group, and Doug Davis, senior vice president and general manager of the IoT Group—are both leaving the company, according to an email sent April 4.

Corporate vice president and general manager of Intel's Communications and Devices Group, Aicha Evans, left the company several days prior.

Brocade Communications Systems made a major move to expand its market reach April 4 by agreeing to spend $1.2 billion to purchase its Sunnyvale, Calif.-based neighbor Ruckus Wireless, a maker of smart WiFi networking equipment for enterprises and service providers.

The purchase price is net of cash and liquid assets owned by Ruckus, which amounts to about $300 million. Ruckus Wireless is a provider of powerful, carrier-grade WiFi networks for sports stadiums and other big public locations.

A three-judge panel of the United States Court of Appeals for the Federal Circuit has overturned a March 2014 jury verdict in Texas ordered Google to pay $85 million for violating a mobile notification patent belonging to SimpleAir, a technology licensing company.

In a 21-page ruling the judges held that the jury found infringement only because of the manner in which the United States District Court for the Eastern District of Texas had allowed certain critical terms in the patent to be incorrectly defined.

 
 
 

Submit a Comment

Loading Comments...
 
Manage your Newsletters: Login   Register My Newsletters























 
 
 
 
 
 
 
 
 
 
 
Rocket Fuel